The Xero Limited (ASX: XRO) share price is up 1.5% to $39.69 at the time of writing after a month of falls throughout October.
Cloud accounting and business services provider, Xero, has asserted itself as a quality business in the last year, promising sustainable growth and even overhauling its executive compensation structure for FY19 to underline its priorities.
This move could have something to do with the share price resurgence.
Executive pay packet cuts are unheard of for the likes of those at the helm of Commonwealth Bank of Australia (ASX: CBA), National Australia Bank Ltd (ASX: NAB) or Woolworths Group Ltd (ASX: WOW) so it’s certainly a progressive approach by Xero.
All eyes are on the emerging online accounting platform provider as subscriber numbers grow across the globe and demand for its offerings pick up.
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Motley Fool contributor Carin Pickworth owns shares of Commonwealth Bank of Australia and National Australia Bank Limited. The Motley Fool Australia owns shares of National Australia Bank Limited and Xero. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.